Australian Dollar: Pullback eases with upside focus on 0.7200 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann report AUD/USD dipped to 0.7122 before a strong rebound to 0.7176, leaving intraday price action in a 0.7140–0.7180 range. Downward momentum is fading and a break above 0.7190 would confirm 0.7120 is out of reach.
UOB's analysis shows the Australian Dollar (AUD) experiencing a pullback after dipping to 0.7122 against the US Dollar (USD), but a strong rebound to 0.7176 relieved downward pressure. The price action now ranges between 0.7140 and 0.7180. Traders anticipate the pair to potentially reach 0.7200 on a 1-3 month horizon, aiming for the year-to-date high near 0.7280.
The AUD was expected to decline yesterday, but it did so, reaching 0.7122, before rebounding strongly. Downward momentum is easing, and a break above 0.7190 would confirm that 0.7120 is no longer attainable.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
